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Galileo Mining (ASX: $GAL) finalises drill targets for upcoming drilling

Overview of Galileo Mining's latest announcement


Galileo Mining Ltd (ASX: $GAL) has announced the finalisation of drill targets for the upcoming drilling season at its 100% owned Norseman project in Western Australia. The geophysical induced polarisation (IP) survey data modelling has confirmed strong chargeable anomalies ready for drill testing, with the drill targets located between one and five kilometres from the 17.5Mt Callisto resource. The RC drill program of approximately 3,000 metres is scheduled to commence in late April. The company's Managing Director, Brad Underwood, expressed optimism about the significance of these drill targets, particularly in light of the breakthrough discovery of the PGE-nickel Callisto deposit in 2022, which has increased the probability of new discoveries within their highly prospective 255 square kilometre Norseman land position.

Executive Commentary on Drill Targets and Exploration Strategy


Our first drill targets for the 2024 drilling season have been confirmed with strong geophysical anomalies close to known mineralisation. These drill targets are significant as they are based on IP surveying, which is specifically designed to look for disseminated sulphide, and on geological mapping which confirms the existence of the same rock sequence which hosts the Callisto deposit. RC drilling is planned to commence in late April to test drill targets for economic mineralisation. The breakthrough discovery of the PGE-nickel Callisto deposit in 2022 has convincingly increased the probability of new discoveries within our highly prospective 255 square kilometre Norseman land position. We look forward to the start of the next round of drilling as we seek to develop a new mineral field in Western Australia.

Summary of Galileo Mining's Announcement


Galileo Mining Ltd (ASX: $GAL) has finalized the drill targets for the upcoming drilling season at its 100% owned Norseman project in Western Australia. The geophysical induced polarisation (IP) survey data has confirmed strong chargeable anomalies ready for drill testing, with the drill targets located between one and five kilometres from the 17.5Mt Callisto resource. The RC drill program of approximately 3,000 metres is scheduled to commence in late April to test drill targets for economic mineralisation. The company's Managing Director, Brad Underwood, expressed optimism about the significance of these drill targets, particularly in light of the breakthrough discovery of the PGE-nickel Callisto deposit in 2022, which has increased the probability of new discoveries within their highly prospective 255 square kilometre Norseman land position. Galileo Mining remains focused on the exploration and development of PGE (palladium-platinum), nickel, copper, and cobalt resources in Western Australia, with a strong emphasis on the Norseman project and the Fraser Range project. The company's ambitions include seeking to develop a new mineral field in Western Australia and continuing to explore for magmatic massive sulphide-nickel-copper deposits across its Fraser Range tenements.

GALILEO MINING LTD
GAL | ASX | Materials
0.2050.01(+5.13%)
At close 05/07 (AEDT)
Market cap
$38.5M
Volume
235,610
DY Yield
0
PE Ratio
0
52 Week Range
0.19 - 0.68
1YR Return
N / A

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